LODGING Staff - 10 Minutes News for Hoteliers - Page 105

2 min

JLL Report Shows Growth for Select-Service and Extended-Stay Segments

🏨 In 2024, the U.S. Select-Service and Extended-Stay Hotel sector saw a record RevPAR of $78, 14% above 2019. Demand increased by 232,000 room nights, nearly matching 2019 levels. The number of sector brands grew from 184 in 2000 to 214, capturing 74% of the room supply. Since 2021, the sector generated $62.6 billion in liquidity, 50% of U.S. hotel investment volume, showcasing low yield volatility over 16 years. Banks lead in lending, with more diversity from investor-driven lenders, insurance companies, and CMBS.

2 min

MGM Resorts Deploys Amadeus CRS Across North American Portfolio

🏨 MGM Resorts International deployed Amadeus Central Reservation System (ACRS) across its North American hotels, enhancing distribution capabilities and connections with both branded and third-party channels. The cloud-based system aims to reduce manual data management and prioritize key partner connections. With ACRS technology, MGM offers quick availability response times for all hotel types. Live across MGM North American properties, the partnership with Amadeus promises continuous innovation.

3 min

Choice Hotels Reports Q4 and Full-Year 2024 Results

💰 Choice Hotels International, Inc. reported a 16% rise in net income to $299.7 million for 2024, with a 22% increase in EPS to $6.20. Adjusted EBITDA hit $604.1 million, up 12%. Adjusted diluted EPS grew 13% to $6.88. Global rooms grew 3.3%; domestically, upscale, extended stay, and midscale rooms went up by 4.3%. The company opened 407 hotels, marking a 21% increase. A partnership with Westgate Resorts added 21 hotels and 14,471 rooms. Domestic RevPAR rose 4.5% for Q4. The company repurchased 3.1 million shares for $382.1 million and forecasts 2025 net income of $288-$300 million, with adjusted EBITDA between $625-$640 million.

3 min

This Week’s Comings & Goings

📅 Pacifica Hotels appoints Shalon Hopkins as SVP of accounting and finance, leveraging 20+ years of experience. The Kessler Collection names Brian McCormick as VP of people and culture to update workplace culture through corporate recruitment experience. Jason Raimondi joins Horwath HTL after founding JOR Hospitality Solutions. Hilton's Chintan Dadhich becomes complex GM of Tempo by Hilton Times Square and maintains his role at Conrad New York Downtown since 2022. Hotel Commonwealth welcomes back Shane McWeeny as GM with 20+ years of experience. Park Hyatt Los Cabos at Cabo Del Sol sets Adam Zilber as GM for Q2 2025 property launch, backed by his 25-year hospitality career. The St. Regis Bal Harbour Resort appoints Carlo Javakhia as GM; he brings 25 years of experience. Rosewood Le Guanahani St. Barth designates Thibaut Asso as resort manager. Claudio Togo becomes managing director at Chatham Bars Inn, after roles at luxury properties like Shangri-La Manila. The Stafford London names John McLean as managing director, touting a global hotel career over two decades. The Ocean Club appoints Emma Hernández as director of sales. W Algarve's new executive chef Andrea Ciuccio to manage multiple restaurants. Hotel Maverick’s Ernest Brown takes on director of food, beverage, and culinary role after 30+ years in

1 min

Sandpiper Hospitality Opens Two Extended-Stay Properties

📌 Sandpiper Hospitality opened two new hotels: ECHO Suites Extended Stay by Wyndham in Richmond, Virginia, and Extended Stay America Premier Suites in Bradenton, Florida, in late January. The Richmond hotel features full kitchens, Smart TVs, a fitness center, laundry facilities, and EV charging stations. The Bradenton hotel has 124 guestrooms with kitchens, WiFi, and breakfast. Sandpiper plans to add 15 new hotels in 2025 and currently manages 16 different brands.

3 min

Hilton Donates 20,000 Hotel Room Nights to Support People Impacted by Wildfires

🔴 Hilton and American Express donated 20,000 hotel room nights to families affected by recent LA wildfires, aiding over 5,000 adults and 2,000 children. The collaboration with 211 LA resulted in bookings at over 160 Hilton-branded California hotels, providing immediate shelter. The Beverly Hilton transformed meeting rooms into 'comfort zones' and organized pet-friendly areas, while Hilton Garden Inn LAX El Segundo sparked a local donation drive. Over the past five years, the companies have provided over 2 million rooms during crises.

4 min

IHG Reports Q4 and Full-Year 2024 Results

💰 InterContinental Hotels Group, PLC announced Q4 and full-year 2024 results with global RevPAR up 3%, Americas up 2.5%, EMEAA up 6.6%, and Greater China down 4.8%. U.S. RevPAR increased by 1.7% in 2024, with a 4.1% rise in Q4. The average daily rate rose by 2.1%, and occupancy by 0.6 percentage points, leading to a total gross revenue of $33.4 billion, a 6% increase. Gross system growth went up by 6.2%, net system growth by 4.3%, with 59,100 rooms opened, marking a 23% YOY increase and reaching a total of 987,000 rooms across 6,629 hotels. New room signings rose by 34% YOY to 106,200 rooms, with the pipeline growing by 10% to 325,000 rooms over 2,210 hotels. Fee margin increased to 61.2%, and operating profit from reportable segments reached $1,124 million, up 10.3%. Adjusted EPS was 432.4, a 15.1% increase. Net cash from operating activities totaled $724 million, and adjusted free cash flow was $655 million. Net debt grew by $510 million, largely due to over $1

2 min

Lodging Econometrics: Global Hotel Construction Pipeline Reaches All-Time High Project Count

🏨 The "Q4 2024 Global Hotel Construction Pipeline Trend Report" by Lodging Econometrics notes a 4% project and 3% room increase YOY in the global hotel pipeline, reaching 15,820 projects/2,438,189 rooms. The U.S. leads with 6,378 projects/746,986 rooms, a 7-8% YOY growth, and alongside China (3,779 projects/681,915 rooms), they account for 64% of global projects. India, Canada, and Saudi Arabia hit record highs. Dallas (204 projects/23,669 rooms) and Atlanta (168 projects/19,431 rooms) topped U.S. city growth. In 2024, 2,226 hotels opened, a 7% YOY increase, with predictions of 2,815 and 2,820 hotel openings for 2025 and 2026, respectively.

1 min

JLL’s Hotels & Hospitality Group Arranges Refinancing for The Maxwell House

🏡 In Phoenix, Arizona, JLL arranged a $29.5 million refinancing for The Maxwell Hotel, a 139-key boutique hotel in Seattle, Washington's Queen Anne neighborhood. The 10-year, fixed-rate loan was secured through a regional credit union for borrower Staypineapple. The Maxwell Hotel, opened in 2010, includes modern amenities, an indoor pool, fitness center, restaurant, bar, and 1,600 square feet of meeting space. Located near Seattle Center, Space Needle, and Climate Pledge Arena, it caters to business and leisure travelers. JLL's team, led by Adrienne Andrews and Jessica Mehra, highlighted the hotel's strong cash flow and prime location. Staypineapple President Dina Belon praised JLL for their expertise and finding a lender that matched their vision.

2 min

Enseo Names David Goldstone President of Hospitality

💼 David Goldstone joins Enseo as President of Hospitality in Plano, Texas. With 20+ years in SaaS sales and leadership roles at WorldVue, Quadriga, SONIFI, and On Command, Goldstone brings extensive industry experience. CEO Brian Gurley highlights Goldstone's customer service passion and influence within hospitality. Goldstone, a board member of AHLA's The Hospitality Show and the International Luxury Hotel Association, is also an advocate against human trafficking. Enseo, known for interactive guestroom entertainment and other tech solutions, is poised for growth in 2025.

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